Shares of Mahindra & Mahindra slumped 5.5 per cent today after the Supreme Court banned registration of diesel-run SUVs and cars having engine capacity beyond 2000 cc in Delhi and NCR till March 31, next year.
The stock plunged 5.44 per cent to settle at Rs 1,218.90 on BSE. During the day, it dipped 6 per cent to Rs 1,210.80.
At NSE, shares of the company tumbled 5.5 per cent to Rs 1,218.05.
The stock was the biggest loser on Sensex and Nifty.
Shares of Tata Motors fell 1.66 per cent to Rs 373 intra-day, but later recovered the lost ground and ended at Rs 380.60, up 0.34 per cent.
Maruti Suzuki closed flat at Rs 4,618.95, down 0.04 per cent after earlier falling 0.38 per cent to Rs 4,603.
The Supreme Court today banned registration of diesel-run SUVs and cars having engine capacity beyond 2000 cc in Delhi and National Capital Region till March 31, 2016 as it unveiled a slew of measures to curb the alarming rise in pollution levels in the city.
Delhi, along with Mumbai, is the largest market for luxury vehicles in India.
According to industry estimates, the capital city accounts for about 20 per cent of total luxury vehicle sales in the country.
Homegrown utility vehicles major Mahindra & Mahindra will also be hit hard by the ban as its popular models, including the XUV500, Scorpio, Xylo and Bolero, have engines above 2000 cc. These vehicles are priced in the range of Rs 6.6 lakh to Rs 17.36 lakh (ex-showroom Delhi).
